Temple Lifestyle Brands acquires Rise Kombucha

Montreal-based Temple Lifestyle brands—the company behind Thirsty Buddha coconut water—has scooped up Rise Kombucha, Canada's leading kombucha brand.

According to Temple, the deal is a strategic one that brings together two powerhouse Canadian beverage brands and accelerates its mission to build a "category defining" platform in functional beverages.

Founded in Montreal in 2008, Rise has become one of the most recognizable functional brands in the kombucha space, earning acclaim for its organic, unpasteurized beverages. Now under Temple's roof, Rise is positioned, the company says, to scale more quickly and expand its reach. 

Temple sees a big opportunity for its brands, noting that Canada's functional drinks market is projected to reach nearly US$7.9 billion by 2030.

READ: Four things to know about kombucha

"We are thrilled about this transaction, as we've long admired what the team at Rise has built, a beloved brand rooted in quality, community and wellness, said Christopher Magnone, co-founder and CEO of Temple Lifestyle brands in a statement. "Brining Rise into our family is more than an acquisition, it's a powerful step forward in our mission to revolutionize better-for-you beverages."